Bank of America Raises Monster Beverage (NASDAQ:MNST) Price Target to $57.00

Monster Beverage (NASDAQ:MNST - Free Report) had its price objective hoisted by Bank of America from $56.00 to $57.00 in a research note published on Tuesday, Marketbeat reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the stock. Citigroup reduced their price target on shares of Monster Beverage from $60.00 to $54.00 and set a buy rating for the company in a report on Thursday, August 8th. BMO Capital Markets cut their price target on Monster Beverage from $56.00 to $54.00 and set a market perform rating for the company in a report on Thursday, August 8th. Piper Sandler decreased their price objective on Monster Beverage from $59.00 to $46.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on Monster Beverage from $63.00 to $59.00 and set a buy rating for the company in a research note on Thursday, August 8th. Finally, Truist Financial decreased their price target on shares of Monster Beverage from $46.00 to $40.00 and set a sell rating on the stock in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $55.68.

Monster Beverage Stock Performance

Monster Beverage stock traded up $0.94 on Tuesday, reaching $52.62. 7,999,617 shares of the stock were exchanged, compared to its average volume of 7,065,592. The company has a current ratio of 3.41, a quick ratio of 2.69 and a debt-to-equity ratio of 0.13. Monster Beverage has a twelve month low of $43.32 and a twelve month high of $61.22. The firm has a fifty day moving average price of $49.25 and a two-hundred day moving average price of $51.22. The stock has a market cap of $54.82 billion, a PE ratio of 32.50, a PEG ratio of 2.29 and a beta of 0.74.

Monster Beverage (NASDAQ:MNST - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. Monster Beverage had a return on equity of 22.23% and a net margin of 22.84%. Monster Beverage's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. Sell-side analysts anticipate that Monster Beverage will post 1.66 EPS for the current year.

Institutional Trading of Monster Beverage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RDA Financial Network raised its position in shares of Monster Beverage by 28.6% during the 3rd quarter. RDA Financial Network now owns 22,653 shares of the company's stock valued at $1,182,000 after acquiring an additional 5,040 shares during the last quarter. Creative Planning lifted its stake in Monster Beverage by 12.8% in the third quarter. Creative Planning now owns 90,773 shares of the company's stock valued at $4,736,000 after buying an additional 10,284 shares during the period. CX Institutional grew its position in shares of Monster Beverage by 28.9% during the 3rd quarter. CX Institutional now owns 6,388 shares of the company's stock worth $333,000 after buying an additional 1,434 shares during the period. Empirical Asset Management LLC increased its stake in shares of Monster Beverage by 116.5% in the 3rd quarter. Empirical Asset Management LLC now owns 11,096 shares of the company's stock valued at $579,000 after acquiring an additional 5,970 shares during the last quarter. Finally, Procyon Advisors LLC raised its position in shares of Monster Beverage by 12.4% in the 3rd quarter. Procyon Advisors LLC now owns 100,285 shares of the company's stock valued at $5,232,000 after acquiring an additional 11,100 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.